USD-CHF @ 1.1679/83... Resistance at 1.1750 ------------------------------------------- R: 1.1750 / 1.1825-35 / 1.1870 S: 1.1650 / 1.1600 / 1.1560 The slip in the pair during the day has resulted in our trade seeing profit during the day. The day ahead today could see the dollar weaken further towards 1.16 as well. Further selling pressure could see the pair slip to test 1.1580 on the downside.
Overall, despite this fall during the day, the pair could once again rise to test the Resistance at 1.1830 over the course of time as the momentum remains bullish. A rise from here, if seen today it self, could find some Resistance at 1.1750.
GBP-USD @ 1.5853/58... Possibility of a further rise -------------------------------------------------- R: 1.5900 / 1.6000 / 1.6100 S: 1.5820 / 1.5760 /1.5650 / 1.5600 The rise in the day has resulted in profit on our long taken at 1.5716. However, the pair has continued it’s rally thereafter, scaling past the Resistance at 1.6840 and is currently close to 1.59. For now, if the rally continues, a test of 1.60 and even 1.61 cannot be ruled out completely.
However, one should also not overlook the fact that the BOE is expected to cut key interest rates on Thursday and this said a slight correction in Cable could be seen.
AUD-USD @ 0.6832/36.... Sharp rise seen ----------------------------------------- R: 0.6850 / 0.6900 / 0.6975-0.7000 S: 0.6800 / 0.6720 / 0.6650 / 0.6600 The pair has seen a substantial rise during the day that has brought the pair to the Resistance at 0.6825-50 once again. The rise was not what we had been expecting after the rate cut by RBA this morning.
Overall a close above 0.68 from here could be a bullish development and could result in a subsequent rise in the pair towards 0.70-72.
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